Under normal circumstances, the LPR interest rate is announced once a month at 9: 30 on the 20th of that month, which can be inquired through the official website of the National Interbank Funding Center and the official website of the Central Bank. In addition, buyers also need to pay attention to the benchmark interest rate, which is the guiding interest rate of loans. Generally speaking, the contract interest rate of loans provided by banks fluctuates around the benchmark interest rate. However, the benchmark interest rate and LPR interest rate are two completely different interest rates, so buyers should pay attention to the distinction when meeting.

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Each quotation bank shall submit the loan market quotation (LPR) to the National Interbank Funding Center on the 20th of each month (postponed in case of holidays), with a step of 0.05 percentage points. The National Interbank Funding Center will calculate the LPR to the nearest integer multiple of 0.05% according to the arithmetic average after excluding the highest and lowest quotations, and announce it at 9: 30 on the same day. The public can inquire at the National Interbank Funding Center and the website of the Central Bank. The current LPR includes 1 year and more than 5 years. The full name of lpr interest rate is the central bank's basic interest rate LPR, which means that the central bank takes LPR interest rate as the benchmark interest rate for loan pricing, and banks can only raise this interest rate, but not lower it. LPR interest rate is based on 18 bank * * *, excluding a highest value and a lowest value, and then averaging. LPR interest rate depends on the process of market supply and demand balance, which does not mean that interest rate will definitely fall. On the contrary, market-oriented pricing may lead to the decrease or increase of this interest rate.

065438+August 17, 2009, the central bank issued an announcement to reform and improve the formation mechanism of quotation interest rate in the loan market, and reformed LPR from six aspects: quotation principle, formation method, term variety, quotation amount, quotation frequency and application requirements. At the same time, the Chinese name of the best loan interest rate was changed to the loan market quotation rate, and the English name LPR remained unchanged. On August 25th, 20 19, the People's Bank of China issued an announcement, requiring that the interest rate of new commercial personal housing loans be based on the loan market quotation in the latest month in the same period. The added value shall meet the requirements of national and local housing credit policies, reflect the loan risk and be fixed during the contract period. The current LPR includes 1 year and more than 5 years. LPR has a high degree of marketization, which can fully reflect the supply and demand of funds in the credit market. Using LPR for loan pricing can promote the marketization of loan interest rate and improve the transmission efficiency from market interest rate to credit interest rate.